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By Julie Ingwersen
CHICAGO, Nov 15 (Reuters) – The monthly U.S. soybean crush rose in October and matched an average of analyst estimates, while soyoil stocks rose for the first time in eight months, according to National Oilseed Processors Association (NOPA) data released on Tuesday.
NOPA members, which account for around 95% of soybeans processed in the United States, crushed 184.464 million bushels of soybeans last month, up from the 158.109 million bushels processed in September and up from the October 2021 crush of 183.993 million bushels.
NOPA’s crush figure of 184.464 million bushels exactly matched the average estimate from nine analysts in a Reuters survey. Analyst estimates ranged from 175.000 million to 191.343 million bushels, with a median of 185.000 million bushels.
Soyoil supplies among NOPA members as of Oct. 31 rose to 1.528 billion lbs, up from 1.459 billion lbs at the end of September but down from 1.834 billion lbs a year ago.
Soyoil supplies at the end of October were expected to have climbed to 1.535 billion lbs, according to the average of estimates gathered from six analysts. Estimates ranged from 1.425 billion to 1.700 billion lbs, with a median of 1.530 billion lbs.
(Reporting by Julie Ingwersen)
((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))
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